The objective of the sub-project is to rehabilitate the present structure located at Blanchard to able to provide improved services to the people of Blanchard and its environs. The existing dilapidated centre has been no functional for the last six years, due to damages caused to the Community Centre by weather related phenomena such as storms, hurricanes
and seismic events over the years. To provide access, the Department of Economic
Development has engaged professional services for the rehabilitation and possible enhancements/upgrades to the Blanchard Community Centre. Through this consultancy the Department seeks to enable the reconstruction of the Community Centre, enabling the centre to function primarily as an emergency shelter capable of providing continuity of service to
approximately 350 patrons.
Saint Lucia will soon lead the Eastern Caribbean Region with the modernization of government’s Electronic Public Procurement Application (e-GP). The procurement software will make public procurement procedures faster and transparent while improving the competitiveness of public procurement by private sector companies.
AN ACT to provide for public finance management, for the
establishment of a Contingencies Fund, Sinking Fund, special fund or
trust fund, the execution of appropriations, the oversight of statutory
bodies and for related matters.
The Public Debt Management Policy is an effort to manage and guide Saint Lucia’s debt management practices and to correct the shortcomings of the current public debt framework. The PDMP establishes a robust legal framework which sets out the authority to borrow, specifies the purpose of borrowing, establishes clear debt management objectives, requires the preparation of a debt management strategy, and requires mandatory reporting on debt management performance.
The figures for the year under review, and in some cases for previous
years, are preliminary.
The Government of Saint Lucia wishes to thank all the individuals and
institutions in both the public and private sectors (whether in Saint Lucia or
abroad), for their kind co-operation in supplying data or other information
for this Review.
The Government of Saint Lucia believes it is important for the people of Saint Lucia to understand the budget process; government revenue, government expenditure and the policy initiatives that benefit all Saint Lucians. In this regard, the Government of Saint Lucia, via the Department of Finance proudly presents the first Citizen’s Guide to the Budget for the financial year 2021/2022.
This paper empirically examines the determinants of commercial bank deposits in Saint Lucia using data
over the period 1995-2018 to identify the factors which have been contributing to Saint Lucia’s constant
deposit growth. Using the ARDL bounds test approach to assess cointegration, results indicate that in the
short-run, GDP and inflation rates are cointegrated with deposits rates while in the long-run no cointegration
exists between the independent variables and deposits. Employing the Toda-Yamamoto test to assess
causality among deposits and the other variables, results indicate that in the long-run, corporate income
tax, GDP, inflation, remittances and interest rates all positively and significantly influence deposit rates in
Saint Lucia. These findings suggest that in the short-run, Saint Lucian policy makers can influence deposit
rates through growth enhancing policies. However, in the long-run policies aimed at attracting remittances
as a special interest rate on bank deposits for persons who live abroad or policies aimed at encouraging
investments with remitted funds may be particularly important for the Saint Lucian economy. This study
has implications for development and formulation of monetary policy for Saint Lucia and similar small open
economies.
The 2022-23 Estimates of Revenue and Expenditure lays out the annual spending plans, projected revenue collections and programme performance information of all government departments. The Budget Estimates is structured by organizational segments namely, Department, Division, Cost Centre, Programme and Sub-programme. These segments are reflected in the schedules for Revenue (Recurrent & Capital), Operating, Non-Project Capital and Project Expenditure. A notable change in the classification is the treatment of Principal Repayments as Capital Expenditure, which is in keeping with the new Chart of Accounts.
In 2021, most economies began to recover from the historic COVID-19 pandemic-induced contraction of
2020. The global economy recorded its strongest post-recession recovery in 80 years, with growth estimated
at 5.9 percent in 2021 from a contraction of 3.1 percent in 2020, owing to a relaxation of pandemic-related
lockdowns in several countries which boosted demand.
The main objective of Saint Lucia's public debt management is to meet Government financing requirements at a minimum cost with a prudent degree of risk. In keeping with this objective, the Ministry of Finance, Economic Development, and Youth Economy are committed to pursuing a debt management strategy aimed at fulfilling this objective. The Debt and Investment Unit (DIU) of the Department of Finance is the primary agent responsible for managing its public debt portfolio.
The Government of Saint Lucia wishes to thank all the individuals, businesses
and institutions in Saint Lucia and abroad, for their kind assistance and
cooperation, in providing data and other information for this Economic and
Social Review.
The MTDS articulates the borrowing activities of the Debt and Investment Management Unit (DIU) during the fiscal year 2022/23, considering the main risks embedded in the debt portfolio and the effects that the issuance choices will have on the portfolio composition. It is an opportune time to be deliberate in our approach to planning and strategizing the medium-term debt management program and the fiscal and macro-economic programs.
The main objective of Saint Lucia's public debt management is meeting Government financing requirements at a minimum cost with a prudent degree of risk. In keeping with this objective, the Ministry of Finance, Economic Development, and Youth Economy are committed to pursuing a debt management strategy to fulfil this objective. The Debt and Investment Unit of the Department of Finance is the primary agent responsible for managing its public debt portfolio.